Extracts from the March-April 2003 edition of Renew
These extracts only represent about 25% of it

12. UK Emissions up

UK carbon dioxide emissions have risen by 1.2%, suggesting the UK’s self-imposed ‘20% by 2010, CO2 reduction target may not be met, with coal use increasing. Friends of the Earth have warned that, if the latest trend continues, emissions will be just 3.5% below 1990 levels by 2010.

However, perversely, in its report, Energy Policies of IEA Countries- United Kingdom 2002 Review, the International Energy Agency praises the UK’s free market approach to energy policy, urging the government to continue along similar lines. "The UK’s pioneering role in electricity market reform has allowed it to reap the benefits of free and open markets. Retail prices have dropped 30% in real terms since 1990 and the market is truly competitive, with 38 rival companies vying for business at the wholesale and retail levels".

That doesn’t sound much like the UK we know- where power companies seem daily to be gobbled up into ever larger conglomerates by overseas corporations and competition is driving the power system into crisis.

But then the carbon trading market seems to be thriving. According the Reuters, prices in the UK’s carbon emissions trading market initially ‘more than doubled’ since the voluntary trading scheme’s launch in April, to above £12 a tonne. Part of the reason could be that while there are plenty of companies wishing to buy certificates to set against their emissions, there are few with excess certificates and not enough green power sources to provide more. However later prices levelled off, as new carbon credits began to feed through the system.